StockX’s CEO Scott Cutler stated yesterday that NFTs may now be bought and sold. StockX has been at the forefront of the reselling sector since its start and is continually trying to expand its inventory. It was just a matter of time until StockX joined the NFT bandwagon.
Buying and selling NFTs has always been difficult for the typical user due to the complexity of setting up a wallet and executing transactions in foreign terrain. StockX’s current marketplace allows users to purchase and sell NFTs just like they do with actual, fungible assets.
Users may start by purchasing NFTs of real-life sneakers like the Nike Dunk Low “Panda” or the Bad Bunny x Adidas Originals Forum Low. It is a non-transferable document that validates ownership of a footwear. That NFT may be sent directly between users, avoiding shipping delays and costs. StockX has the real shoe in its global storage facilities.
The NFT may be exchanged for the actual shoe at any moment, but that is doubtful given the NFT’s stratospheric price tag.
It will be fascinating to watch if NFTs of specific footwear remain so costly. The current high bid for the “Panda” Dunk Low is over $1,200. The genuine shoe sells for much less.
Get started with as little as $10.
Wondering what NFTs are? Here’s a guide on – What are NFTs
Want to get one yourself? Here’s more info on – Where to buy NFTs
Wondering how NFTs work? Here’s your guide.
How to invest in NFTs – Earn money from NFTs by investing, maybe?
How to buy NFTs – Buy an NFT yourself.
Also, check out the guide on – How to make money with NFTs
You could make an NFT yourself – Here’s how to make NFTs
And finally, read on how to sell NFTs. Useful stuff! 😉